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Accounting Policies of Blazon Marbles Ltd. Company

Mar 31, 2015

1. Basis of Preparation of Financial Statement

The company follows mercantile system of accounting , recognition income and expenditure on accrual basis. The accounts are prepared on historical cost convention and as a going concern and in accordance with the provision of the companies act, 1956 as adopted consistently by the company. Accounting policies not referred to specifically otherwise are consistent and in consonance with generally accepted accounting policies.

2. Fixed Assets

Fixed Assets which have been put to use are shown at cost or acquisition (including expenses related to installation and proportionate share of Preoperative expenses top the relative assets) less depreciation. No depreciation has been provided on fixed assets which are under installation or installed but not put to use.

3. Depreciation

(1) Depreciation is provided on pro-rata basis, from the data on which assets have been put to use.

(2) Depreciation is provided on Written Down value basis at the rates as prescribed u/s. XIV to the Co. Act' 1956.

4. Related Party Disclosure

There is no related party transactions took place during the year.

5. The company has not made any provision for deferred tax liability arising out of timing difference on account of depreciation as per companies act and Income Tax Act as per Accounting Standard AS-22 prescribed ICAI


Mar 31, 2014

1. Basis of Preparation of Financial Statement

The company follows mercantile system of accounting , recognition income and expenditure on accrual basis. The accounts are prepared on historical cost convention and as a going concern and in accordance with the provision of the companies act, 1956 as adopted consistently by the company. Accounting policies not referred to specifically otherwise are consistent and in consonance with generally accepted accounting policies.

2. Fixed Assets

Fixed Assets which have been put to use are shown at cost or acquisition (including expenses related to installation and proportionate share of Preoperative expenses top the relative assets) less depreciation. No depreciation has been provided on fixed assets which are under installation or installed but not put to use.

3. Depreciation

(1) Depreciation is provided on pro-rata basis, from the data on which assets have been put to use.

(2) Depreciation is provided on Written Down value basis at the rates as prescribed u/s. XIV to the Co. Act'' 1956.

4. Related Party Disclosure

There is no related party transactions took place during the year.

5. The company has not made any provision for deferred tax liability arising out of timing difference on account of depreciation as per companies act and Income Tax Act as per Accounting Standard AS-22 prescribed ICAI


Mar 31, 2012

1. Basis of Preparation of Financial Statement

The company follows mercantile system ofaccounting , recognition income and expenditure on accrual basis. The accounts are prepared on historical cost convention and as a going concern and in accordance with the provision of the companies act, 1956 as adopted consistently by the company. Accounting policies not referred to specifically otherwise are consistent and in consonance with generally accepted accounting policies.

2. Fixed Assets

Fixed Assets which have been put to use are shown at cost or acquisition (including expenses related to installation and proportionate share of Preoperative expenses top the relative assets) less depreciation. No depreciation has been provided on fixed assets which are under installation or installed but not put to use.

3. Depreciation

(1) Depreciation is provided on pro-rata basis, from the data on which assets have been put to use.

(2) Depreciation is provided on Written Down value basis at the rates as prescribed u/s. XIV to the Co. Act' 1956.

4. Related Party Disclosure

The following are key management personnel of the company. List of Directors are as under:-

a) Shri Mansukh D Sanghvi

b) Shri Bhavik Badani

c) Shri Naresh Shah

d) Shri Jikisha Shah

5. The company has not made any provision for deferred tax liability arising out of timing difference on account of depreciation as per companies act and Income Tax Act as per Accounting Standard AS-22 prescribed ICAI


Mar 31, 2010

1. Basis of Preparation of Financial Statement

The company follows mercantile system of accounting , recognition income and expenditure on accrual basis. The accounts are prepared on historical cost convention and as a going concern and in accordance with the provision of the companies act, 1956 as adopted consistently by the company. Accounting policies not referred to specifically otherwise are consistent and in consonance with generally accepted accounting policies.

2. Fixed Assets

Fixed Assets which have been put to use are shown at cost or acquisition (including expenses related to installation and proportionate share of Preoperative expenses top the relative assets) less depreciation. No depreciation has been provided on fixed assets which are under installation or installed but not put to use.

3. Depreciation

(1) Depreciation is provided on pro-rata basis, from the data on which assets have been put to use.

(2) Depreciation is provided on Written Down value basis at the rates as prescribed u/s. XIV to the Co. Act 1956.

4. Related Party Disclosure

The following are key management personnel of the company. List of Directors are as under:-

a) Shri Vishnu P Kabra

b) Shri Ashwini K Singh

c) Shri Ramesh C Parwal

d) Shri Bimlesh K Mishra

5. The company has not made any provision for deferred tax liability arising out of timing difference on account of depreciation as per companies act and Income Tax Act as per Accounting Standard AS-22 prescribed ICAI

 
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